The Nigerian Economic Summit Group (NESG) has raised concerns over the persistent underperformance of the oil and gas sector, warning that it poses a significant threat to the effective implementation of the 2025 budget.
In its latest publication titled “NESG 2025Q1 GDP Alert,” the private sector-led think tank observed that Nigeria’s crude oil production in the first quarter of 2025 fell well below the government’s budget benchmark of 2.06 million barrels per day (mbpd).
This shortfall, the NESG warned, translates directly into lost oil revenues, which are critical to funding key government expenditures outlined in the budget.
